ECB cuts core inflation, unemployment projections

FRANKFURT (Reuters) - The European Central Bank lowered its underlying inflation forecast on Thursday and also reduced its unemployment projection, its macroeconomic forecasts showed on Thursday.

A woman buys fruits from a street vendor in Athens, Greece July 13, 2015. REUTERS/Yiannis Kourtoglou

It sees underlying inflation or price growth excluding volatile food and energy prices at 1.3 percent next year, below a June forecasts for 1.4 percent while the 2019 projection was cut to 1.5 percent from 1.7 percent.

The ECB now sees the jobless rate at 8.6 percent in 2008, below the 8.8 percent forecast in June while the 2019 projection was cut to 8.1 percent from 8.3 percent.